Fortescue Metals Group reported a 3% rise in underlying net profit after tax to $3.5 billion for the fiscal year ended June 30, driven by record iron ore shipments and higher realized prices.
Revenue increased 9% to $17.0 billion, while underlying EBITDA rose 9% to $8.6 billion, maintaining a 51% margin. Iron ore shipments totaled 201.3 million metric tons, up from prior records, with the realized hematite price climbing 7% to $90.70 per dry metric ton.
Costs rose alongside revenue, with hematite C1 costs increasing 4% to $18.74 per wet metric ton due to higher energy prices and inflation. Total dividends for FY26 amounted to A$1.08 per share, including a fully franked final dividend of A$0.46 per share, representing a 65% payout ratio. Metals capital expenditure reached $3.6 billion for the year.
Fortescue forecast iron ore shipments of 197 million to 207 million tons for FY27, with hematite C1 costs projected to rise to $20.50–$21.75 per wet metric ton. Metals capital expenditure is expected to increase to $3.7 billion–$4.7 billion.
Sydney-listed shares were down 1.5% at A$17.77 by 00:23 GMT on Thursday.
